Best Car Insurance Options In Singapore (2025)
Updated: 29 Jul 2025
Written bySingSaver Team
Team
Finding affordable car insurance in Singapore is essential for any driver, especially with the rising costs of vehicle ownership. This guide will help you navigate the options and discover the cheapest car insurance quotes in Singapore without compromising on necessary coverage.
Securing affordable full coverage auto insurance in Singapore requires careful consideration and comparison. While price is a significant factor, it's crucial to balance cost with the level of coverage and the insurer's reputation.
Here's a table showing estimated annual costs for comprehensive car insurance from some of Singapore's leading providers:
|
Policy |
Estimated annual premium from: |
|
SingLife Motor Standard |
S$714.87 |
|
MSIG MotorMax |
S$729.94 |
|
ECIS Private Motor |
S$843.43 |
|
Direct Asia Competitive |
S$873.77 |
|
AIG Complete |
S$878.58 |
|
TIQ Comprehensive |
S$884.18 |
|
Allianz Motor Protect |
S$966.91 |
|
HLAS CarProtect |
S$1003.39 |
|
Great Eastern Drive and Save Plus |
S$1020.86 |
|
Singtel CarProtect (Premium) |
S$1225.03 |
The estimated annual car insurance costs provided in this article are based on a sample driver profile: a 35-year-old married male driving a 2021 Honda Vezel 1.5, with over 3 years of driving experience, a 50% No-Claim Discount (NCD), and no claims within the last 3 years.
Individual premiums may vary based on your unique circumstances, including but not limited to your age, gender, marital status, vehicle type, driving history, and NCD. Please obtain personalised quotes from multiple insurers using SingSaver’s comparison tool to determine your actual car insurance costs.
Why do I need car insurance?
In Singapore, car insurance is not just a recommendation, but a legal imperative. The Motor Vehicles (Third-Party Risks and Compensation) Act mandates that all vehicles must have at least third-party liability insurance. This ensures that accident victims are financially protected against bodily injury or death, and safeguards drivers from potentially crippling costs associated with damages.
Without car insurance coverage, you would face severe penalties and be personally liable for all accident-related expenses, which can be astronomical.
Types of car insurance coverage in Singapore
Looking to understand the different types of car insurance in Singapore? Here's a quick guide to the key types:
Third-Party Only (TPO) – legally required
Third-Party Only (TPO) insurance is the minimum level of coverage required by law in Singapore. It covers your legal liability for causing bodily injury or property damage to others in an accident.
Third-Party, Fire, and Theft (TPFT) – not legally required, but good to have
Third-Party, Fire, and Theft (TPFT) insurance provides the same coverage as TPO, but with added protection for your vehicle against loss or damage due to fire or theft. While it’s not legally required, consider that it offers more protection than TPO.
Comprehensive – most popular, highly recommended
Comprehensive car insurance offers the most extensive coverage. It includes everything covered by TPFT, plus coverage for accidental damage to your own vehicle regardless of fault. It may also include benefits like windscreen coverage, personal accident coverage, and towing assistance.
Despite it being the most expensive, comprehensive car insurance is the most popular type of coverage amongst drivers in Singapore. After all, your car can be said to be an investment, and you want to do your best to safeguard against all eventualities.
Ready to learn more?
Check out SingSaver's coverage on the top 10 best car insurance options in Singapore.
How much does car insurance cost?
Car insurance premiums in Singapore typically range from S$700 to S$1,000 annually, but your exact premium will be calculated based on the following factors:
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Age & Gender: Younger and less experienced drivers often face higher premiums.
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Marital Status & Occupation: These can sometimes influence perceived risk.
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Driving Experience: More years of safe driving can lead to lower rates.
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Claims History: A clean record can lead to a higher No-Claims Discount (NCD) that can significantly reduce your premium.
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Certificate of Merit (COM) Discount: This is awarded for good driving behaviour.
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Vehicle Details: The make, model, age, and how you use your car (e.g., daily commute vs. occasional use) all play a role in deciding your premium.
Don't be discouraged if you receive a surprisingly high quote – this can sometimes be due to broader statistics linked to your vehicle or profile, regardless of your personal driving skills. Different insurers assess risk differently, so it's crucial to shop around for multiple quotes.
Product Name | Hot Reward Pick | SingSaver Reward | Personal Accident Coverage | Towing | |||
|---|---|---|---|---|---|---|---|
 | MSIG MotorMax | S$70 | S$20,000 | Up to S$500 | |||
 | Allianz Motor Protect | S$70 | Available for Add On | Up to S$500 | |||
 | Etiqa Third Party Only Private Car Insurance | S$10 | Not covered | No | |||
 | Singtel CarProtect (Essential) | S$240 | S$120,000 | Up to S$300 |
Best for young drivers: SingLife Motor Lite
Singlife Motor Lite is an excellent choice for young drivers due to its cost-saving benefits and NCD protection. The waiver of excess for windscreen repairs (S$100 excess for replacement at approved workshops) offers instant savings, crucial for young drivers who may be more prone to minor incidents.
Unlike other insurers that may deduct up to 30% of your NCD for 'at-fault' claims, Singlife has a less harsh reduction. While specific NCD reduction details can vary by plan, Singlife's approach typically helps you regain your maximum 50% NCD faster, helping you save on future premiums.
Additionally, Singlife Motor Lite provides a brand-new car replacement for vehicles less than 12 months old. This offers significant peace of mind, protecting young drivers from substantial financial loss in the unfortunate event of a major accident.
» MORE: Read our review
Best for senior drivers: Etiqa Third Party Only Private Car Insurance
This policy delivers significant value for senior drivers in Singapore who may drive less frequently or prioritise cost-efficiency.
A key advantage is the flexible excess level, allowing you to choose a higher excess to lower your premiums. This empowers senior drivers to manage their upfront costs, making car ownership more affordable, especially if they have a strong driving record and anticipate fewer at-fault incidents. While a higher excess means paying more if an accident occurs, it also comes with the benefit of immediate savings.
For senior drivers who drive less, Etiqa's "Drive Less Save More" add-on (for new policies) is a game-changer. By simply uploading odometer photos, you could earn up to 30% in cash rebates yearly. This aligns perfectly with the driving habits of many seniors, rewarding them for lower mileage without compromising essential Third Party Only coverage.
» MORE: Read our review
Best for safe drivers: Allianz Motor Protect
Allianz Motor Protect is ideal for safe drivers seeking comprehensive yet cost-effective coverage. Its stripped-down approach ensures you're covered for essential scenarios without paying for unnecessary extras – a perfect fit for those confident in their driving skills.
A stand-out feature for the Comprehensive Plan is the no-additional-premium Agreed Value Payout at Total Loss. This guarantees you receive the car's pre-agreed value instead of a depreciated market value in the event of a total loss. This preserves your car's worth while rewarding your careful maintenance and safe driving habits.
While NCD Protector is an add-on, safe drivers with a good NCD can benefit from this option. The flexibility to add personal accident/medical expenses or choose your own workshop (for an additional premium) allows safe drivers to customise coverage to their needs without overpaying for benefits they're less likely to utilise.
» MORE: Read our review
Best for high-risk drivers (e.g. frequent claims, previous traffic offenses): MSIG MotorMax
MSIG MotorMax Plus may not be the cheapest motor insurance plan in the market, but the difference in price is marginal considering that it offers amongst the highest benefits for personal accident, loan protection and damages. The policyholder will gain S$100,000 coverage for personal accidents, while any authorised drivers and passengers are covered for S$50,000.
There is also a loan protection benefit of up to S$100,000, which is useful for paying off any remaining car loans should you become unable to do so. In addition, if your insured vehicle is less than 12 months old, you are also entitled to a new-for-old replacement of up to S$100,000 in case of extensive car damage.Having these benefits can allow you to cover crucial gaps in your finances.
Remember that these are just a few examples, and the cheapest car insurance for your specific needs might vary. Always compare car insurance quotes from multiple insurers using SingSaver's comparison tool to find the most affordable option that meets your individual requirements.
» MORE: Read our reviewHow to lower your car insurance premium
Finding the most affordable car insurance in Singapore starts with comparing quotes from multiple insurers. Don't settle for the first quote you receive – explore your options and see how different insurers stack up against each other. SingSaver's car insurance comparison tool makes this process easy and convenient. Simply enter your details and compare personalised quotes side-by-side, allowing you to identify the most affordable options that meet your needs.
Here are some additional tips to help you secure the cheapest car insurance quotes:
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Maintain a clean driving record: Avoid accidents and traffic violations to earn No Claim Discounts (NCDs), which can significantly lower your premiums.
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Opt for a higher excess: Increasing your excess (the amount you pay out of pocket in the event of a claim) can often lead to lower premiums. However, ensure you can comfortably afford the higher excess if you need to make a claim.
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Consider lower coverage for older cars: For older vehicles, comprehensive coverage may not be the most cost-effective option. Explore third-party fire and theft or third-party-only coverage to see if they better suit your needs and budget.
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Ask for discounts: Many insurers offer various discounts based on factors like your age, driving experience, occupation, or even your vehicle's safety features. Inquire about any available discounts to maximise your savings.
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Cash in on major life changes: Life events like getting married, buying a house, or having a child can sometimes affect your car insurance premiums. Inform your insurer of any significant changes, as you might be eligible for a discount.
Frequently asked questions about car insurance in Singapore
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Car value: Less expensive cars generally cost less to insure as their repair and replacement costs are lower.
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Engine capacity: Cars with smaller engines typically come with lower premiums as they are considered less powerful and potentially less risky to insure.
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Safety features: Cars with advanced safety features like airbags, anti-lock brakes, and electronic stability control may be eligible for lower premiums as they reduce the risk of accidents and injuries.
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Security features: Cars equipped with anti-theft devices like alarms and immobilisers can also attract lower premiums due to a lower risk of theft.
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Car make and model: Some car models have a higher risk of theft or are more expensive to repair, leading to higher premiums.
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Value of your car: If your car is relatively new or expensive, comprehensive coverage can provide valuable protection against a wider range of risks, including damage to your own vehicle.
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Risk tolerance: If you have a low-risk tolerance and want maximum peace of mind, comprehensive coverage offers the most extensive protection.
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Budget: Comprehensive plans typically have higher premiums than third-party fire and theft or third-party-only plans. Consider your budget and whether the extra cost is justified for the additional coverage.
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Driving habits: If you frequently drive in high-traffic areas or have a history of accidents, comprehensive coverage may be a worthwhile investment.
The No-Claims Discount (NCD) is a valuable discount you earn on your car insurance premium for every year of claim-free driving. Think of it as a reward for being a safe and responsible driver. The higher your NCD, the lower your premium will be, which can lead to significant savings over time. NCD typically starts at 0% and increases by 10% each year, up to a maximum of 50%. However, if you make a claim, your NCD will usually be reduced, resulting in a higher premium at your next renewal.
How much it will cost to insure your car depends on several factors, including:
Car insurance groups are based on the risk profile of the car, considering factors like its value, repair costs, safety features, and theft risk. Cars in lower groups are generally cheaper to insure as they are considered lower risk. When choosing a car, consider the insurance group it falls under to estimate its potential insurance costs.
Whether a comprehensive car insurance plan is worth it depends on your individual needs and circumstances. Consider the following factors:
About the author
SingSaver Team
At SingSaver, we make personal finance accessible with easy to understand personal finance reads, tools and money hacks that simplify all of life’s financial decisions for you.